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A Retrospective on the First 100 Episodes of the Alpha Exchange

Alpha Exchange

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Evaluating Market Prices

In 19 87, a seismic market crash brought about fed easing and a prosaic statement about being ready to support market functioning. 11 years later, as the l t c m portfolio imploted, the new york fed broker to sale in which hedge funds counterparties supplied back stop capital. In two thusand nine the fed began purchasing treasury securities, launching a near semi permanent policy of ce. And 11 ears later, in 20 20, the fed did ce in in amount as necessary, and brought in corporate bond ce, buying its first corporate bonds.

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